Santé Group is working with Pulse Insurance to help develop the insurer’s first product for its entry into the private medical insurance (PMI) market.
The product will be a new entry level health insurance policy which will cover hundreds of procedures, Health & Protection understands.
Speaking to Health & Protection at Santé Group’s annual conference, chief executive Paul Nugent (pictured) revealed that the policy will cover around 457 procedures and provide limited cover for medical expenses.
He added that Santé had found a Lloyds syndicate which will act as actuary for the new product.
Ben Broom, head of Pulse Clarity, revealed Santé Group had played a key role in helping to build the product.
As a result, the insurer is planning for the product to be made exclusively available to Healthplan members for the first three months after launch.
Santé acquired the assets of Healthplan earlier this month.
Broom added that Pulse will “hopefully” be launching the product fully at the next Santé Group roadshow.